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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Sunday, 22 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 25,000/26,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR ANALYSIS
COALspot.com (Singapore): Analyised by Capt. Radhakrishnan Reddy, Managing Director of Vistaar Shipping Services, Singapore.
BDI hits a new high ...
Friday, 20 November 09
INDONESIA UNITED TRACTORS PLANS $430 MLN CAPEX IN 2010
Reuters reported that, Indonesian heavy equipment distributor and mining contractor PT United Tractors Tbk plans capital expenditure of $430 million ...
Friday, 20 November 09
DRY BULK SHIP OWNERS HOPE RALLY WILL LAST
Boon times are still on the daily agenda of every dry bulk ship owner these days after one of the toughest year in the industry’s century-old ...
Friday, 20 November 09
NTPC LOOKING FOR LONG TERM CONTRACTS FOR COAL IMPORT
Business Standard of India reported that, State run power firm NTPC today said it is looking for long-term supply of coal from overseas market to me ...
Friday, 20 November 09
CHINESE COKING COAL SUPPLY TO BE 'TIGHT' IN 2010, KGI SAYS
Bloomberg Reported that, Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for ...
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- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
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